Li Lin is sitting in her Renzo Piano-designed offices in Hangzhou, China, when we talk over Zoom. Dressed in a plain dark hooded top, she hardly looks like a successful fashion entrepreneur: her short hair is bobbed into a neat cap and she is relaxed and full of fun and laughter. Yet the company she
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Our weekly roundup of news from East Asia curates the industry’s most important developments. Chinese billionaire arrested in U.S. for $1B financial fraud According to an announcement published by the U.S. Department of Justice (DOJ) on Mar. 15, Chinese billonaire Ho Wan Kwok (aka Miles Guo and more commonly as Guo Wengui), has been arrested
Munis largely ignored a U.S. Treasury sell-off as reports that some troubled banks were getting new funding helped calm investors’ concerns about a global banking crisis. Equities rallied on the news. Triple-A benchmarks were bumped up to five basis points, depending on the scale, while UST yields rose 10 to 25 basis points 10 years
In this article US6M Follow your favorite stocksCREATE FREE ACCOUNT Young man working at home Eva-katalin | E+ | Getty Images Investors seeking safety from last year’s market havoc went running to Uncle Sam — that is, they opened more than 3 million accounts to buy Treasurys and other bonds directly from the U.S. government.
A target date for the highly anticipated Shanghai hard fork has now been set: April 12. Ethereum core developers approved the target deadline during the All Core Developers Execution Layer #157 call on March 16. Initially estimated for late March, the Shanghai mainnet upgrade features five Ethereum Improvement Proposals (EIPs), including EIP-4985, which will enable
Critics of private equity hoot that buyout groups inevitably miss out on bargains when company prices fall because debt is then harder to obtain. For the biggest private equity firms, today’s tightening credit market is giving them a chance to challenge that limitation. Earlier this week, tech-focused Silver Lake announced that it would acquire the
Viorel Kurnosov | Istock | Getty Images With roughly two more months before the U.S. Department of Health and Human Services ends the three-year Covid public health emergency, more than 5 million of the nation’s households remain behind on their rent. All together, tenants continued to owe nearly $11 billion in rental debt during the
The collapse of Silicon Valley Bank has shown technology makes bank runs easier. Panic may also spread more fluidly across the world thanks to electronic media. European banks sold off heavily in response to the SVB failure in the US. In Switzerland, Credit Suisse was forced to seek central bank support. How risky are European
A customer walks past an ATM outside of a First Republic Bank branch in Manhattan Beach, California, on March 13, 2023. Patrick T. Fallon | AFP | Getty Images Check out the companies making headlines in midday trading. First Republic Bank — Shares of First Republic erased earlier losses and were last up about 22%. Sources
The Securities and Exchange Commission has proposed new rules for all market entities, including broker dealers and the Municipal Securities Rulemaking Board, to help address cybersecurity risks as one part of a three-part proposal intended to strengthen cybersecurity protections. Proposed new Rule 10, if implemented, would require entities across markets to establish, maintain and enforce
Blackstone knew what it was doing. In recent months, the private assets giant limited redemptions from Breit, its real estate investment fund. Like many such vehicles for rich private investors, the $975bn fund has inbuilt “gates”. These forestall panic selling of assets at bargain prices when investors want their cash back. The banking sector, in
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Just how worried should investors be about inflation? Do you ever feel like you’re surrounded by a word? Every time you turn on the TV, radio or read a news article, it seems everyone is talking about inflation. But how worried should we be as investors about this? In today’s video, we will discuss this
Stablecoin issuer Circle says it has cleared “substantially all” of the redemption and minting requests for its stablecoin, USD Coin (USDC). In a March 15 operational update, Circle said between the morning of March 13 to the close of banking business in the United States on March 15, it had redeemed $3.8 billion USDC and
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India
The Biden administration has threatened to ban TikTok if its Chinese owners do not sell their stake in the social media company to address growing national security concerns, according to two people familiar with the matter. The Committee on Foreign Investment in the United States (Cfius) — an inter-agency panel that evaluates foreign investment in
Moody’s Investor’s Service raised the outlook on the A. B. Won Guam International Airport senior revenue bonds Baa2 rating to stable from negative Wednesday. Moody’s Lead Analyst William Oh said the improved outlook stemmed from Moody’s expectation that enplanement levels will continue to improve because South Korea and Japan have lifted COVID-19-related travel restrictions. The
The United States equities markets tumbled on March 15 after Saudi National Bank, Swiss Bank Credit Suisse’s largest investor, said it will not be able to provide any more funding to Credit Suisse due to regulatory limitations. Investors are nervous because Credit Suisse, which has large U.S. and global operations, warned on March 14 that
US prosecutors have charged Guo Wengui, the Chinese businessman and critic of the Communist government who fled to New York and allied himself with prominent China hawks, with being a serial fraudster who funded his lavish exile through a string of investment scams. Guo was arrested Wednesday on charges including fraud, conspiracy and money laundering,